USDA Expands Microloans to Help Farmers Purchase Farmland and Improve Property

WASHINGTON, DC — Agriculture Deputy Secretary Krysta Harden announced that the U.S. Department of Agriculture (USDA) will begin offering farm ownership microloans, creating a new financing avenue for farmers to buy and improve property. These microloans will be especially helpful to beginning or underserved farmers, U.S. veterans looking for a career in farming, and those who have small and mid-sized farming operations.

“Many producers, especially new and underserved farmers, tell us that access to land is one of the biggest challenges they face in establishing and growing their own farming operation,” said Harden. “USDA is making it easier for new farmers to hit the ground running and get access to the land that they need to establish their farms or improve their property.”

The microloan program, which celebrates its third anniversary this week, has been hugely successful, providing more than 16,800 low-interest loans, totaling over $373 million to producers across the country. Microloans have helped farmers and ranchers with operating costs, such as feed, fertilizer, tools, fencing, equipment, and living expenses since 2013. Seventy percent of loans have gone to new farmers.

Now, microloans will be available to also help with farm land and building purchases, and soil and water conservation improvements. FSA designed the expanded program to simplify the application process, expand eligibility requirements and expedite smaller real estate loans to help farmers strengthen their operations. Microloans provide up to $50,000 to qualified producers, and can be issued to the applicant directly from the USDA Farm Service Agency (FSA).

About Sean Carpenter

Sean Carpenter is the President and Chief Executive Officer of Shamrock Development Associates, Inc., Government Deal Funding, LLC and all of its affiliated companies. Shamrock is a full scale development, consulting, public relations, corporate marketing, and asset/ property management firm. His knowledge of public programs has brought him to teaching opportunities to share his insight throughout the United States.